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Hoteliers Warn of More Closures and Falling Sales of up to 70% in 2021

Madrid's hoteliers are concerned about the evolution of the sector; they consider that demand will not return to pre-crisis levels until 2023 or 2024 and that sales will fall by 70% next year.

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Hotel VP Plaza España Design.

In Madrid, the hotel sector has reinstated 50% of its workers from ERTEs since the end of the State of Emergency, but that figure is below the Spanish average of 77.6%, as reported on Tuesday by the Spanish Confederation of Hotels and Tourist Accommodation (Cehat).

The trade association foresees the closure of most of the hotel establishments in the holiday segment and urges the articulation of specific ERTEs for the hotel sector, which should be in force until, at least, Easter 2021.

Read the full article in Spanish.

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